1. Advisorkhoj
  2. Post Your Queries
  3. Taxation
  4. Will gift tax apply if I transfer fifty thousand to my in laws account

Will gift tax apply if I transfer fifty thousand to my in laws account

I want to give fifty thousand in in-law's account who does not file return, whether it has any tax implications on both of us?

Aug 3, 2016 by Basudev, Barbil  |   Taxation

There is no tax to be paid (either by you or your in-laws) in case the gift amount is upto Rs. 50,000 in a year.

comments powered by Disqus
You haven't found the answer for your queries? Do post your queries to us.
POST A QUERY

© 2016 Advisorkhoj - A Gamechanger Business Services (I) Pvt. Ltd. Brand - All Rights Reserved

Feedback